Creative Planning Buys 10,839 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Creative Planning increased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 40.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,868 shares of the company’s stock after acquiring an additional 10,839 shares during the quarter. Creative Planning’s holdings in Revolution Medicines were worth $1,717,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Revolution Medicines by 55.8% in the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock worth $28,000 after purchasing an additional 222 shares during the period. Headlands Technologies LLC raised its stake in Revolution Medicines by 140.9% during the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after buying an additional 885 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Revolution Medicines during the first quarter worth about $104,000. EntryPoint Capital LLC acquired a new position in Revolution Medicines in the first quarter valued at about $107,000. Finally, Nisa Investment Advisors LLC grew its stake in Revolution Medicines by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock valued at $131,000 after acquiring an additional 320 shares during the period. Institutional investors own 94.34% of the company’s stock.

Insider Transactions at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $44.93, for a total value of $449,300.00. Following the completion of the sale, the insider now directly owns 300,170 shares in the company, valued at approximately $13,486,638.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Mark A. Goldsmith sold 10,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $44.93, for a total value of $449,300.00. Following the sale, the insider now owns 300,170 shares in the company, valued at approximately $13,486,638.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barbara Weber sold 5,200 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the sale, the director now directly owns 13,065 shares of the company’s stock, valued at $627,381.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,866 shares of company stock worth $6,814,424 in the last ninety days. Insiders own 8.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RVMD. Jefferies Financial Group started coverage on Revolution Medicines in a report on Monday, July 8th. They set a “buy” rating and a $63.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Revolution Medicines in a research report on Monday, August 12th. Wedbush reiterated an “outperform” rating and set a $59.00 target price on shares of Revolution Medicines in a report on Thursday, August 8th. JPMorgan Chase & Co. decreased their price objective on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, Oppenheimer boosted their target price on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $56.75.

Revolution Medicines Stock Up 5.6 %

NASDAQ:RVMD opened at $50.42 on Wednesday. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of -13.45 and a beta of 1.43. Revolution Medicines, Inc. has a twelve month low of $18.00 and a twelve month high of $51.00. The stock’s 50 day moving average price is $45.49 and its two-hundred day moving average price is $42.13.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.81 million. The company’s revenue was down 73.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.92) EPS. As a group, analysts anticipate that Revolution Medicines, Inc. will post -3.35 earnings per share for the current year.

Revolution Medicines Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.